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Mah Bow Tan on his good job in raising your asset value

Greatbirdlegend

By Greatbirdlegend,
in Lite & EZ

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Unfair

Unfair

3rd Gear

You might be happy cause prices climb.

 

But do think about your children and grandchildren.

There is also the possibility of the bubble bursting...

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Andylkkg

Andylkkg

4th Gear

The concerns here is too high a price, the first timer/upgrader find a burden to seek their new roof due to family extension etc..... however, those already residing in one whom find the rising price a sweetener since they are staying in at least half a quater million for a typical 3 room flat for a 99 years tensure. So how to balance this scale of thoughts from different sectors? [gossip]

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Sosaria

Sosaria

Twincharged

The truth is that you can only make money IF you can afford to buy another unit in addition to the one that you're living in. We're staying here for good. We're not like some foreigners who can totally sell out, cash out their current unit and return to home countries to live like kings.

 

For most people, what they're staying in is almost certainly HDB. Their 2nd unit absolutely cannot be HDB, only private. Which makes it quite an impossible dream for average (and even upper average) income earners these days with the ridiculous prices quoted.

 

So, high prices for what?? Can eat, har?? The high prices eventually end up being a burden to our next generations.

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Shull

Shull

Turbocharged

Rising property prices in the OPEN MARKET is never a bad thing..

 

But the purpose of HDB in the first place is to provide AFFORDABLE housing for citizens, and by pricing the prices of new flats with respect to market prices (compared to pricing according to the cost price of building a single flat) will make HDB flats out of reach for many first time flat owners. Imagine, needing to pay 30 years for that single HDB flat.

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Andylkkg

Andylkkg

4th Gear

Rising property prices in the OPEN MARKET is never a bad thing..

 

But the purpose of HDB in the first place is to provide AFFORDABLE housing for citizens, and by pricing the prices of new flats with respect to market prices (compared to pricing according to the cost price of building a single flat) will make HDB flats out of reach for many first time flat owners. Imagine, needing to pay 30 years for that single HDB flat.

 

Somewhere somehow, the current housing policies is flawed and in need of some tuning and not only cooling measures. [bigcry]

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Invigorated

Invigorated

Supercharged

But the purpose of HDB in the first place is to provide AFFORDABLE housing for citizens, and by pricing the prices of new flats with respect to market prices (compared to pricing according to the cost price of building a single flat) will make HDB flats out of reach for many first time flat owners. Imagine, needing to pay 30 years for that single HDB flat.

 

I share this thought. The high pricing mainly means we have to work our asses off to pay off our loans.

 

How does it benefit Sgeans when we sell high and buy high, with no real value add to the quality of life? We are mostly sitting on a paper profit.

 

Should our future generations slough their way just for a place to stay? The only winners, like most have said here, are the PRs who sell and profit-take before returning to their M'sia, Indo etc hometowns with lots of spare change. Not counting their CPF full withdrawals too.

 

Most of us can't afford to do that mainly due to our roots here i.e. parents, children, relatives, frens, jobs...

 

I worry for our children when I see this: MM Lee: Your HDB home value will never drop ("85% of Singaporeans are living in HDB flats and we intend to keep the values of these homes up. It will never go down," said MM Lee.)

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Kiadaw

Kiadaw

6th Gear

The truth is that you can only make money IF you can afford to buy another unit in addition to the one that you're living in. We're staying here for good. We're not like some foreigners who can totally sell out, cash out their current unit and return to home countries to live like kings.

 

For most people, what they're staying in is almost certainly HDB. Their 2nd unit absolutely cannot be HDB, only private. Which makes it quite an impossible dream for average (and even upper average) income earners these days with the ridiculous prices quoted.

 

So, high prices for what?? Can eat, har?? The high prices eventually end up being a burden to our next generations.

 

That exactly what a lot of FT I know doing. Buy apartment in Singapore. Patiently waiting for price to rocket. When they done with this country. Sell the house & go back to their country & enjy the windfall. At least thats an option.

 

If you are FT, wouldn't you do this as well?

 

Pity Singaporeans can't do such things, unless they miagrate. If they do, can you blame them?

 

The raising housing cost will not benefit those that choose to live in Singapore, at least not the rich ones, if not now, then their children in future, if the raising cost increase far exceed the average salary increment of the nation, which is happening now.

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Kiadaw

Kiadaw

6th Gear

I share this thought. The high pricing mainly means we have to work our asses off to pay off our loans.

 

How does it benefit Sgeans when we sell high and buy high, with no real value add to the quality of life? We are mostly sitting on a paper profit.

 

Should our future generations slough their way just for a place to stay? The only winners, like most have said here, are the PRs who sell and profit-take before returning to their M'sia, Indo etc hometowns with lots of spare change. Not counting their CPF full withdrawals too.

 

Most of us can't afford to do that mainly due to our roots here i.e. parents, children, relatives, frens, jobs...

 

I worry for our children when I see this: MM Lee: Your HDB home value will never drop ("85% of Singaporeans are living in HDB flats and we intend to keep the values of these homes up. It will never go down," said MM Lee.)

 

Well said bro.

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Alim

Alim

1st Gear

If you realize, whatever cooling measures implemented, it DID NOT cause the property market to tumble drastically.

 

After all, most of us are HDB/PTE property owners, causing prices to drop drastically will benefit the younger Singaporeans in helping them but will send majority of Singaporeans asset into negative zone.

 

HDB is a double edge sword for PAP, dangle carrots for upgrading, increase in property value etc. If ever prices crash, PAP will be out!

 

 

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